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TMI Blog2019 (10) TMI 1450X X X X Extracts X X X X X X X X Extracts X X X X ..... he Company under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016, is ordered - the Resolution Professional is appointed as Liquidator of the Corporate Debtor - application allowed. - M.A. No. 7/KOB/2019 In IBA 258/CHENNAI BENCH - - - Dated:- 21-10-2019 - Mr. Ashok Kumar Borah And Mr. Veera Brahma Rao Arekapudi, JJ. ORDER 1. This MA arose upon the application filed by Ravindra Chaturvedi under Section 33(1)(a) of the Insolvency and Bankruptcy Code, 2016 for liquidation of the Corporate Debtor. 2. The brief facts of the case are that by order dated 26.03.2019 the NCLT, Chennai Bench admitted the application filed under Section 7 of IB Code, 2016 by the Financial Creditor ie., the Boon investment and Trading Compan ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er submitted that the RP has prepared and shared the information memorandum from the information collated in terms of Regulation 36 (1) (a) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 with the members of CoC. It is further submitted that during the 2nd CoC meeting, Form-G (Form for invitation of Expression of Interest), eligibility criteria as prescribed under Section 25 (2) (h) of Code and Bid Evaluation Matrix was approved by the CoC members for invitation of Expression of Interest for revival of the Company. In pursuant to the resolution, the applicant made a public announcement on 10.06.2019 in Form-G under Regulation 36A (1) of the CIRP Regulations which was published in the Business Standa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt in respect of the Corporate Debtor, the applicant submits that the Corporate Debtor shall be ordered and directed to be liquidated under the provisions of Section 33 (1) (a) of the I B Code, 2016. 4. Hence the applicant filed this petition with the prayers: (a) Pass an order under Section 33(1)(a) of the Code for Liquidation of the Company; and (b) Appoint the Resolution Professional (Ravindra Chaturvedi) as Liquidator of the Corporate Debtor; 5. We have thoroughly perused all the case records including the exhibits ie., Petition under Section 7 of the Insolvency Bankruptcy Code read with Rule 4 of Bankruptcy Rules, 2016, order passed by Hon ble Chennai Bench of NCLT (Ann. 1), public announcement (Ann. 2), Minutes of the Fr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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